Trading analysis

USD/JPY (a 4-hour chart)

General Overview

The pair still cannot continue to grow, but risks remain ascendant, and the aim of uptrend is to test the high 105.40. However, only a break and consolidation below 100.00 removes completely positive expectations, signaling the transition to long-term correction.

There is a confirmed and strong buy signal. Chinkou Span is below the price, the price is above the Ichimoku cloud. Kijun-sen and Tenkan-sen are horizontal. The Cloud is neutral.

Bollinger Bands indicator shows a lateral movement as its bands are expanded and directed aside. MACD is growing, showing a buy signal.

Trading recommendations

The price is in a range 102.60 - 101.60. If the price approaches the support level 101.60 we can expect a bounce up.

If the retest of the level 101.60 will be accompanied by the consolidation rebound with the aim - 102.60 may happen.

Trading in financial markets involves substantial risks, including complete possible loss of investment capital. This activity is not suitable for all investors. High leverage increases the risk (Risk Disclosure).